BUZZ-Hormel Foods down on weak annual sales, profit forecasts

Reuters

2024/12/04

** Shares of Skippy peanut butter maker Hormel Foods HRL.N fall 2.6% to $30.99 premarket

** Co forecasts annual net sales and adjusted EPS expectations below analysts' estimates on weak demand for its products and lower turkey prices

** Expects FY25 net sales of $11.9 bln to $12.2 bln vs analysts' estimates of $12.23 bln - LSEG

** Sees annual adjusted EPS of $1.58 to $1.72 vs estimates of $1.68 - LSEG

** Co reports Q4 results inline with expectations

** Up to Tuesday's close, stock had fallen 0.9% YTD

(Reporting by Neil J Kanatt in Bengaluru)

((Neil.JKanatt@thomsonreuters.com;))

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